How to Transfer Money in Discovery Bank with Mobile Codes (USSD Codes)

Digital banking is transforming how South Africans manage their money. Among the new wave of modern banks, Discovery Bank stands out as one of the first fully digital banks in the country. One of its most useful features is the ability to transfer money using mobile codes, giving customers a fast, convenient, and secure way to send and receive funds without relying only on account numbers.

If you’ve ever wondered how to transfer money in Discovery Bank with mobile code, this guide will walk you through every step, explain how it works, and highlight tips to make your transfers quicker and safer.

What Is a Mobile Code Transfer in Discovery Bank?

A mobile code transfer is a payment option where you can send money to another person using their cellphone number or unique code instead of a traditional bank account number.

• PayShap integration: Discovery Bank uses PayShap, South Africa’s national instant payment system, which allows transfers to a mobile number linked to a bank account.
• Mobile codes: Instead of filling in long account details, you enter the recipient’s cell number or code, and the money goes directly into their linked bank account.
• Convenience: It works 24/7, including weekends and public holidays.

Why Use Mobile Code Transfers in Discovery Bank?

1. Instant Transfers – Money reflects within seconds.
2. Simpler Payments – No need to memorize bank details.
3. Secure Transactions – Biometric login + OTP verification.
4. Low or No Fees – Often free or cheaper than EFTs.
5. Universal Access – Works with other South African banks via PayShap.

How to Transfer Money in Discovery Bank with Mobile Code (Step-by-Step)

Here’s the exact process of sending money using a mobile code in Discovery Bank:

Step 1: Log into the Discovery Bank App

• Open the Discovery Bank App on your phone.
• Log in using your PIN, fingerprint, or Face ID.

Step 2: Select “Transact”

• From your dashboard, tap on “Transact.”
• Select “Payments & Transfers.”

Step 3: Choose PayShap/Mobile Code Option

• Under transfer methods, choose “PayShap” or “Mobile Code Transfer.”
• This allows you to send money using a cellphone number or registered code.

Step 4: Enter Recipient Details

• Enter the recipient’s cellphone number (linked to their account).
• Alternatively, if they use a mobile payment code, input the unique code.

Step 5: Enter Payment Amount

• Input the exact amount you want to transfer.
• Add a payment reference for clarity.

Step 6: Confirm and Authenticate

• Review all details carefully.
• Authenticate using OTP or in-app approval notification.
• Once approved, the recipient receives the money instantly.

Receiving Money with Mobile Code in Discovery Bank

Not only can you send money, but you can also receive transfers using your cell number or code:

1. Link your cellphone number to your Discovery Bank account in the app.
2. Share your number or code with the sender.
3. Receive money instantly into your account.

Example of Mobile Code Transfers

Let’s say you want to send R500 to a friend who banks with FNB:

• Instead of asking for their bank account details, you simply use their cellphone number (linked via PayShap).
• You enter it in your Discovery App under Mobile Code Transfer.
• Within seconds, they get the money in their FNB account.

How Mobile Code Transfers Differ from EFTs

Feature	Mobile Code Transfer	Traditional EFT
Speed	Instant (real-time)	1–2 business days
Details Needed	Cellphone number/code	Bank account number & branch
Fees	Low or free	Sometimes higher
Availability	24/7 including holidays	Limited to business hours
Security	Biometric + OTP	Secure but slower

 

Can You Use Mobile Codes for International Transfers?

Currently, mobile code transfers (PayShap) are for domestic transactions only within South Africa.

For international payments, Discovery Bank uses SWIFT transfers which require:

• SWIFT/BIC code
• IBAN (if applicable)
• Purpose of payment

But for local use, mobile code transfers are the fastest and most convenient option.

Security Features When Using Mobile Codes

Discovery Bank takes security seriously with:

• Two-factor authentication (OTP/App approval).
• Biometric login (fingerprint/Face ID).
• Real-time fraud monitoring.
• Instant notifications after transfers.

Fees for Mobile Code Transfers in Discovery Bank

Discovery Bank aims for transparent and low-cost banking.

• To other Discovery Bank accounts: Free.
• PayShap/Mobile code transfers: Free or minimal (depending on transaction size).
• EFTs: Sometimes carry small fees.
• International transfers: Higher fees due to exchange rates & SWIFT charges.

Tips for Using Mobile Code Transfers Effectively

1. Save contacts in your Discovery App for faster payments.
2. Use references for all transfers so recipients can track payments easily.
3. Check transfer limits in your app – you can adjust them for higher amounts.
4. Avoid scams – never send money to unknown numbers.

FAQs About Discovery Bank Mobile Code Transfers

1. Can I use mobile code transfers without the app?

No, you need the Discovery Bank App to initiate the transfer.

2. Is PayShap the same as mobile code transfer?

Yes, PayShap is the system that enables mobile number/code-based transfers in South Africa.

3. Are mobile code transfers instant?

Yes, they are usually completed in seconds.

4. Can I send money internationally with mobile code?

No, mobile code transfers work only in South Africa.

5. What happens if I enter the wrong cellphone number?

The money will go to that number’s linked account. Always double-check before confirming.

Using mobile codes in Discovery Bank makes money transfers faster, easier, and more secure than traditional methods. By leveraging PayShap, customers can send and receive money instantly with just a cellphone number, avoiding the hassle of long account details.

For South Africans who value speed, convenience, and safety, mobile code transfers in Discovery Bank are among the best digital banking tools available today.